Advance Auto Parts 2012 Annual Report Download - page 74

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F-29
penalties of $4,964 and $301, respectively. As of December 31, 2011, the Company had recorded a liability for potential
interest and penalties of $6,109 and $490, respectively. The Company has not provided for any penalties associated with tax
contingencies unless considered probable of assessment. The Company does not expect its unrecognized tax benefits to change
significantly over the next 12 months.
During the next 12 months, it is possible the Company could conclude on approximately $2,000 to $3,000 of the
contingencies associated with unrecognized tax uncertainties due mainly to the conclusion of audits and the expiration of
statutes of limitations. The majority of these resolutions would be achieved through the completion of current income tax
examinations.
The Company files U.S. and state income tax returns in jurisdictions with varying statutes of limitations. The Internal
Revenue Service completed an examination of the Company's 2008 and 2009 tax returns. Fiscal 2010 and subsequent years
remain open and subject to examination. The Company has no state examinations open for tax years prior to 2007. With limited
exceptions, Fiscal 2008 and subsequent years remain subject to examination by state tax authorities.
15. Lease Commitments:
At December 29, 2012, future minimum lease payments due under non-cancelable operating leases with lease terms
ranging from 1 year to 30 years through the year 2043 for all open stores are as follows:
Fiscal Year Amount
2013 $ 328,716
2014 291,741
2015 278,800
2016 259,500
2017 243,283
Thereafter 936,443
$ 2,338,483
The Company anticipates its future minimum lease payments will be partially off-set by future minimum sub-lease income.
At December 29, 2012 and December 31, 2011, future minimum sub-lease income to be received under non-cancelable
operating leases is $25,561 and $9,756, respectively.
Net Rent Expense
Net rent expense for Fiscal 2012, 2011 and 2010 was as follows:
December 29,
2012
December 31,
2011
January 1,
2011
Minimum facility rentals $ 300,552 $ 289,306 $ 279,099
Contingency facility rentals 907 1,162 1,115
Equipment rentals 5,027 5,403 5,375
Vehicle rentals 18,401 20,565 19,903
324,887 316,436 305,492
Less: Sub-lease income (4,600)(3,967)(3,813)
$ 320,287 $ 312,469 $ 301,679
ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 29, 2012, December 31, 2011 and January 1, 2011
(in thousands, except per share data)